Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
African Minerals Ltd said it did not have money for a $17-million coupon payment on its $400 convertible bonds due February 10, two months after a cash crunch forced it to shut down its Sierra Leone operations. The miner, which was battered by a slump in iron-ore prices and the impact of the Ebola epidemic in West Africa, said its Tonkolili project remained shut even as long-term funding talks with Shandong continued.
African Minerals Ltd said it did not have money for a $17-million coupon payment on its $400 convertible bonds due February 10, two months after a cash crunch forced it to shut down its Sierra Leone operations. The miner, which was battered by a slump in iron-ore prices and the impact of the Ebola epidemic in West Africa, said its Tonkolili project remained shut even as long-term funding talks with Shandong continued.
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